Victory Hill Capital Partners-managed investment company VH Global Sustainable Energy Opportunities (GSEO) has acquired a portfolio of seven solar and two wind assets in Spain, Portugal and Sweden. Once fully operational, the portfolio will generate a total installed capacity of 248.4 megawatts (MW), generate 489,900 megawatts hour (MWh) – equivalent to powering over 100,000 Spanish homes annually – and should help to save around 150,000 tonnes of C02 emissions per year. The transaction will be completed in two phases. The first phase consists in the acquisition of five assets with a generation capacity of 59.8MW across the three countries, and project rights for four solar photovoltaic (PV) assets in Spain (188.6MW). Meanwhile, the second phase will serve to fund the construction of 188.6MW ready-to-build solar PV assets – fully funded by a European strategic fund and project finance debt. “Key power-dependent economies in Western Europe, including those in this programme, are widely acknowledged to be at the front end of significant electricity demand in the coming years,” said Richard Lum, Co-chief Investment Officer of Victory Hill Capital Partners. “… Power demand in Europe may increase by close to 50% in the next decade as a result of the build-out of AI-driven data centres throughout the region. Through this programme, we will work with our joint venture partner, Spanish Power, to capture favourable revenue opportunities caused by this emergent demand-side dynamic.” GSEO is a London-listed investment firm focused on backing energy infrastructure essential for the global transition towards net zero.
